There comes a point in any new business venture, where you will want to grow your business in order to stay afloat. Sometimes this needs to be done quickly, so that you can stay ahead of your competitors and meet demands of staffing costs. Unexpected costs of running your business can also cause pressure such as the need to upgrade equipment and rent increases. Hopefully you will have established a long term plan when you wrote your initial business plan, but plans sometimes have a tendency to go awry. Even contingency plans are expendable.
Here are some tips on how to grow your business quickly.
There is nothing more important, especially in a new evolving business as spending the majority of your time generating sales and leads. Yes, you need admin to help with the running of your business, you need products or services designing and you possibly need the support of a staff team, however there will be no point in any of these if you haven’t got customers. At least 80% of your time should be spent on sales.
Always ensure that your customers remain your focus. You should spend time getting out there, away from your office, actually talking to potential customers. Find out what they would like from you, ask them to try your product, maybe offer deals.Most importantly try to build a rapport with potential customers. This will put you one step ahead of your competitors as a friendly, approachable face goes a long way.
It is also important to look after the customers you already have, maybe offer a loyalty scheme? This will ensure that they recommend you to others.
Changes in the market occur quickly so it is essential that you keep up with changes and adapt your products, sales techniques and services accordingly. Are you aware of ppc call tracking and how analytics can help with your marketing and revenue increases?
Your brand needs to be strong and memorable within the marketplace. Fit your brand to your target audience, ensure your brand connects with your customers and use inspiring, influential messages within your branding. Your aim is to create an emotional attachment in your customer base. Get your brand out there. There’s no point in creating an amazing brand if no one actually sees it.
Franchise your business or offer it as a business opportunity
Maybe you could consider franchising your business, this would allow your brand to grow into new geographical areas. Advantages are that you would receive an additional stream of income with the potential for this to increase further as the franchise expands. The time spent training franchisees would be of great benefit in the long run.
Sometimes it may be necessary to seek funding to enable your business to grow. The first point of call would be family and friends to keep repayment costs down. A small business loan, sponsorships, crowdfunding and using your own credit card are also options that you could research.